Welcome to the sixteenth CCR day. My name is Ronaldo. Last year we were together, but not in person on account of the pandemic. Now we have you here because our business is about people. This day is very special of those who are online with us. You are making it special as well. São Paulo has to do with mass transportation. We have to keep a protocol of vaccination and healthcare that we still have to maintain given the size of this city. It's a privilege to be here today. Before all, we'll have Mr. Marco Cauduro. We have our nurse, and she's part of the security team. She is representing something wonderful. That is the security of us all. It's the safety and security all well looked after. We have smoke detectors, fire breaking, holding fire proof doors. We have exits. We have in case of emergency, maintain your calm at all times because that's why Erica is here representing us on this side of security and safety. Thank you, Erica. Have a great day. CCR day is very traditional. We are introducing you to the market, and we have a disclosure of the situation, current situation, economic and related aspects to all of you. We are always on the move. We are generating value, mobility. Investing in human mobility is about transformation of the life of people. At CCR, we invest in people. People that generate results, that look after human mobility. We are part of life and the mobility of millions of people every day through the structure of our trains, subway and airports. At CCR, we add efforts up, and we deliver positive results. We look after different pathways so that you can live yours. We'll show you how we make the difference and through what way. Welcome to the sixteenth CCR day. CCR, let's celebrate your way. The agenda. We have this new journey with Mr. Cauduro, and then we'll talk about the five pillars. We'll have a break because it's so important. You have seen how important this pillar without the employees that we have have value ever so much. We will show you why this pillar as Ms. Honora Lima mentioned yesterday we had a great day, and then we'll have Q&A. Mr. Cauduro, your presentation. First of all, a very good morning. We had a great day yesterday, and we are still dealing with the changes in the monarchy, with the departure from this earth of the Queen. She was a witness to a new cycle built by CCR, and other cycles will come. Good morning. She saw almost all, not my CFO who roots for the Palmeiras team. Thank you for being here. CCR Day, a very important event to have this dialogue with the market that has always been valid, and has been a solid member of the market. We always worked with communication, reports. I would like to start with an extra-agenda item. My transition has happened, and on account of transparency, due to a personal decision aligned with our board of directors, represented by Ms. Ana Penido. We have a change in the CEO, but it's all continuity. Nothing that we'll talk about here has to do with the company. Thanks to the people represented here, 20,000 people who work directly with us. The result that we all have reported here that executes and delivers independent of this transition and leadership change that we have. We carry on with goals, metrics, and the organization is well prepared for reaching our purposes. Last but not least important, our respect, our pride to be part of a company that is so robust, potent. I have learned about the structure of the company that is solid, is strong, and operates its assets with incredible people and change the lives of people. Turning over to a new leaf, let's go on to what we have here today. You know this slide, but this is just to show you the consistency of the growth of the company, the allocation of capital of the company, always with discipline. The guidelines within what we have proposed. Of course, dealing with these cycles, concessions, programs that have been accelerated. M&A, mergers and acquisitions, accelerated the acquisitions by the company. A platform of airports that are the fruit of a sixth round with the acquisition of Pampulha Airport. CCR is one of the main port and airports managers in the country. Capital allocation-wise, I would like to bring to you the main aspects of 2021 and 2022. Last year, we shared our Polaris, our five-year goal plan with it. What we maintained our focus on how to win and how to make sure that we would come out as winners. We have roadways, airports and ports. Within this focus, we prioritized key aspects in terms of scale, profitability, construction of the strategic behind it all with the airport of Pampulha especially, and some others with a geographic reach that is rather comprehensive. When we have infrastructure as one of the main purposes, we have to have the management of the interface with the idiosyncrasies that are part of the relationship with some regulatory bodies. We have this capacity to obtain a social license to operate with respectfulness, transparency, building trustfulness, sensitivity and sensibility as well, and changing the lives of those who are under our wing. When we have the supply chain, local workforce, sometimes have to be dealt with in a more sensitive eye and hand. We have the contract of lines 8 and 9 of CPTM, the train company, above ground train. The lines that are very much present in São Paulo require this special touch. We have just mentioned how São Paulo has its specificities that require a good and proper management gain in efficiency, quality, especially for the end customer. We have what I call myself the risk. The agreement with the state of São Paulo, assets and liabilities, that have been dealt with for quite a few years with maintaining professional, technical, and transparent, along with the state government and, transparency that led on to expanding to AutoBAn and some other liabilities that have been dragged for a few years. Last but not least, the new contract of the Dutra roadway. Mr. Edu will tell in detail what we are doing, and that is in terms of investments, given its size and representativeness. The Dutra roadway connects São Paulo and Rio. Overall, we have the geography of Brazil and where we are in that term. We are focusing on Brazil, but it doesn't mean that we are not investing beyond the boundaries and the limits of the country. We have a path in Houston that is undergoing execution. Our airports in Costa Rica, Ecuador, and Curaçao are core within our portfolio agreement. Talking about the management of the company, I'd like to highlight that recently we have unified CCR Rodovias. We had Infra SP that took care of the highways of the state of São Paulo, and RodoNorte that was responsible for federal or state roads outside São Paulo. This was unified. We have Eduardo Camargo, he's the president, he's going to make a presentation. Also with regard to the last CCR Day, we have Márcio Hannas, the new president of CCR Mobilidade, and the consolidation of the airport platform with Fábio Russo from Infra SP to be the president of CCR Aeroportos. You're going to have the opportunity to talk to them, and they're going to tell us about the business plans from now on. With the team that supports execution of the business in the best way possible. You also know that it's not a change in the structure, but we have a vice president of risk compliance and governance that reports to the board and follows up this transformation of conformity that the company has been going through for the last 4 years. Now talking about figures, we have 39 concessions and services. Sometimes you do not know what it means, but we're present in 230 cities and millions of people, populations being impacted every way by the company, either directly through its 17,000 collaborators or 35,000 indirect collaborators, and also because of the direct and indirect externality caused by the infrastructure and our assets. I'd like to highlight that from 2019 to 2022, a time of crisis and uncertainty, not only in Brazil but in the world, the company invested more than BRL 10 billion, which shows our belief in the company and the stability of Brazil and our responsibility to transform this infrastructure to have this leap of potential ability. I always like to highlight this number. We have more than 1.3 million people serviced every day. 'Cause sometimes you see that the cars just go on, you pay toll, and that's it. No, we have 3,700 cars serviced every day from broken car to fatal accident, and all those services are done with respect, care, and safety. In terms of urban mobility after the acquisition of 89 line, we have more than 3 million people using our modes. For instance, if the Pinheiros subway station does not have its work, then the city stops. We have a very military in terms of discipline. It's crucial to ensure that level of service that the population requires. Last, when you say that infrastructure transforms the life of people, this is what you see. The level of accidents in the CCR roads has dropped consistently. When you see the indicator of fatal accidents, we have a 90% drop. We save lives every day, either with the 3,700 service every day, but also because we invest with quality paving, quality signaling in order to be able to educate the population together with the authorities, governmental authorities, to make the traffic in Brazil safer. I'd like to remind you that we have a very cohesive management structure, the main features of our agenda. This is directed with this company's strategic plan that has a very clear goal with metrics, with what is the limits of performance of the company. We have this challenge to continue performing with the support of the company's board, and I'm very sure that this is a continuous growth pathway with consistency, profitability. The company has shown a lot of capital discipline through its investment decisions. The company's investment, the fruit of a very long process with a well-established governance and through its committee and the board of directors. It's not the change of someone in the leadership that will change the capital allocation and policy of the company. Last, I'd like to talk about safety. Though the company is frequently acknowledged by its operational excellence, we opted to put safety as a top value, where everything that a collaborator does or customer wants to go to on model and gets to their destiny in a safe way. If you want to be a human mobility company and take way of the ways of the people, we have to deliver a very safe environment. Going to this slide that you probably know, that you saw last year, this is a summary of our five-year strategic plan. It's our Polaris, our North Star. Yes, it's a company that's leader in human mobility infrastructure. You want to be a company that thinks only about an infrastructure operator managing long service agreement to be a company that provides essential public service to the population. We have to keep a dialogue with our final customer, understand their choices, and where service is core, people are core, safety is core. Not by chance, we now define metrics, not only focus on the return to the shareholder. Of course, this is our main objective. We have this is our financial pillar in our strategic plan. There are other non-financial metrics that according to our belief, the product of all these other four pillars that are not financial, they cause a return to the shareholder holder. We define that we have to deliver an excellent service, to have an environment with very well-engaged collaborators, take care of the company's reputation before the public, before the granting authorities, in order to build an ethical environment that allows us to manage the best agreement and to offer the best service possible. Last but not least, the planet. Infrastructure causes a lot of impact. This is not a choice to bring the environmental impact agenda to the fore. By learning through the years, we said that when you manage the impact where you take care of the environment, then we have the reduction of the absenteeism, the increase of the people, the increase of safe practice, and this also generates a cost reduction, more credibility, and better results. These are the five pillars of strategic plan. We decided to operate in these pillars and where we already operate, but with other challenges to get to our purpose. We have an horizontal structure, agile, with empowered decision makers to reflect the speed of the business. We have worked in this new design of the structure, the change of culture with new formal tools to manage people. At least to manage the with director of people gave us more consistency and guidelines to this work that is connected with management project, where you see these new objectives and follow very disciplined agenda that are consistent. To run all this system with discipline and consistency is our big challenge. Last, data and technology. Maybe this is the future of the company, and we are creating the conditions so that the company may learn how to innovate in a consistent way. We have billions of people connecting every day, millions of data points that we have to learn how to use that and transform that into information and distribute in the powerful channels that we have had. The company has a very big future in terms of development. We built an innovation plan, and now we have to build consistency and in-depth to this plan to bring innovation to deliver a better human mobility service with quality and safety. To wrap up our mission for 2035, we have a very well-established objective with metrics, with return metrics. We have identified prioritized projects. The company had a growth agenda, very strong for the last two years. Yes, we do have a big challenge to execute them, but that does not mean that the growth agenda is on second level. We have some short-term projects. Gustavo is going to tell us about that, and we are very dedicated and have all the conditions to design a competitive project to support this growth agenda. Also, I'd like to stress that this is a company that today goes from a CapEx around BRL 2 billion per year to a PACS of almost BRL 5 billion per year. Besides all the OpEx of this company that has added use of assets. It almost doubled the performance challenge of the company. Today, the company is well-prepared to support this growth agenda. It's not to perform anyway, when you have to perform it on time, with safety, within budget, and fulfilling all the agreement obligation that it's responsibility of the company, not only with granting authorities, but also with the customers that rely on these assets. We reinforce this commitment to do this in an ethical way and with safety. I'm calling now Francine for the next presentation. Thank you, Marco. Francine can come over. While she's coming here, it's very difficult to summarize something from Marco's presentation. Look at the map of Brazil, as big as it is, and to see this capillarity that each year has built, value the agreements, the ability to construct, to give benefits to the people. 3 million people being transported and get this reduction in terms of accident and fatalities is very important point to be stressed. Now to talk about the dimensions of this strategic plan, the customer. They mentioned Francine is Superintendent of the Transformation Office. Then Francine will call Eduardo Camargo. He's the President of CCR Rodovias. He's going to talk about customers, but we start talking about the shareholders they mentioned. Francine. Good morning, everyone. Some of you know me. I'm the Superintendent of the Transformation Office or Strategic Planning for customers. I'm a civil engineer with MBA and post MBA in finance. Today, I've been for the CCR Group 14 years and still counting. The strategic planning for CCR is responsible together with a great team that I have. I'm honored to lead. It is the guardian. You see that you're going to come back to some topics because the strategic planning of CCR is extremely connected, and the integrated value is a value for the company, and this is what it is meant to do. This is a recap of what Marco said in one of his slides. Customers is in the middle of our strategic planning together with the collaborators where we try to retain our best talent. Also we have the legacy that we have. This is the biggest infrastructure group in Latin America. We are aware of our responsibility through the ESG pillars. We're not only to be, but want to be acknowledged about what we do with the pillar's reputation. Of course, this we have to bring sustainable return to our shareholders. This is our view of our strategic planning. I'm going to repeat again because it's important for us that CCR wants to be a human mobility leader. This makes a difference in when you provide services and when you talk about our customers. Also, we talked about the figures, the huge figures of CCR, but these figures are our customers, our final customers. We have some customers, some investors are some of our clients, but we are focused in our focus clients. Marco said that we have 3 million people that go through our boats, subways, trains. Also in our roads, we have 2.5 million cars. When you do that, it's more than 1 billion. Every year in our airports, we have more than 43 million people passing through our airports. What does it mean, 3 million people? Every day, we have the population of the Mato Grosso do Sul in our mobility models for subways, boats, and bridges. In our airports, we have the population of Norway and Canada every year in our airports. If you put those two figures on a line, you'd get to Dubai. I was not available to do the roads 'cause you'd go to. I didn't make the count. This is just for you to have an idea of the impact that CCR has in the lives of millions and millions of people. These are the numbers that I show you with a lot of pride and responsibility. We are not happy because in all our models, we are well evaluated. We know and we acknowledge that we have a big asset, the assets that we acquired in 2021. With the commitment of the people that work here, we know that we have to go to get to these satisfaction levels. By providing the service and we satisfy the client in such a big country, these results are reasons for celebration and to continue to go beyond. We have BH Airport, ViaQuatro, AutoBAn, and ViaSul with satisfaction levels near or higher than 90%. Since safety is a value that we do not negotiate, it's important that we repeat the results because service providing that 90% would not mean anything if our customers were not safe, if they were not. It gets their homes safe with better quality of life and faster. These are the figures that Marco presented, and this means more than 370,000 lives saved. This is not only what we bring to society, but means BRL 75 billion saved by saving those lives. This is a figure that we're very proud to celebrate because this is our purpose as a company. Of course, investments are connected to this and the better roads, better equipment, better highways. This is not only our 17 million direct collaborators, 25 million indirect collaborators. The investment that CCR made since it was founded is more than BRL 68 billion. This had BRL 60 billion that contributed to the GDP in employment that is generated more than 1 million employment generated. Want to show this, to show our commitment with our clients, the center of our Polaris, of our ambition in continuing doing more. We know that we have way and respect with society, with everything that we're going to do. Investing in CCR is to invest in sustainable development of Brazil. To wrap up my part, my presentation, I will not repeat the same figures, but it shows that to follow our clients, some of our clients, we have more than 100,000 cameras. In peak times, we have more than. Almost 300,000 people going through, and they have more than 200 regular routes in our airport. This is something that group want to give to our customers. You know that this company wants to grow, wants to go after excellence. Now I'm going to call Eduardo Camargo to tell us more about what he's been doing in highways. Good morning, everyone. I'd like to thank the presence of everyone here, and also thank the presence of our task team. Milton and George are here. They are available to talk to you during the break. I want to thank the ANTT directors and some officers of ANTT also, all the railroad, the directors of railway. We're not railway focused, but they're here to get to know what we do. My name is Eduardo Camargo, and I'm leading highways. I have 32 years working here. For 9 years, I was for ViaOeste and Rodoanel, then I went the airport division, and now we are here. I'm here facing this huge challenge. Something that Marco have talked about is that we do not call our user as user, we call them customers. This is a big change that we have implemented in the last year. It changes how we look at this customer that is using our infrastructure. I like to talk about some items, especially in the highways segment. We're used to investing in the AVI, that is electronic toll. With a focus on the customers, it's better to have a more fluid experience in this. Also with this penetration, we can lower our cost of collection payments. Have a strategic issue because our business is in services and utilities where the client pays on site. This feeling of paying is not a good feeling. If you ever have had to put a coin at a time in the shower or you have to take a shower, you do not know how much the water and power costs when you take a shower. The user of the electronic toll, in general, they do not know how much does it cost. They know how much their monthly bill will cost. Some of this strategy goes for this. Sometimes you have 80% of the passengers that do not use electronic toll, and we believe that in the next year there will not be a toll booth. This is something that we want to expand. Talking about credit and debit cards, why did it take us so long to implement this? We noticed these demands from our clients through these payment modes. The technology to use credit and debit was not ready. Today, with the penetration of these proximity credit and debit cards, we can follow these time limits within the toll booths. Since last year when we implemented credit, the use of credit cards, here at ViaLagos and ViaRio in Rio, you can see how this penetration increased every month. This is for ViaLagos. We get almost 50% of use of cards. Now we're starting with using debit and credit cards in São Paulo, and we think it's going to grow. This is an advantage for our customers in the highway. Also, we will reduce our collection costs because we do not have to use the cars and insurance and so on. Another item, I'm going to offer some services that has to be with the cell use, that would I be encouraging the customers to use the cell phone while they are driving. It's not only the driver that is actually driving in other words. We have the passenger, and that's why we have the chatbot. It's a mechanism that uses the demands because people use WhatsApp as a communication platform. We have platforms of communication with robotization of most of these technologies to make channels more agile and timely so that we can make our services and help desks more effective. We have the app here in São Paulo. I would invite you to download it. It is the result of an understanding of what our clients wanted and needed. We are preparing this platform for what is coming from the Rio-São Paulo roadway. In the third year, we are going to go on to an operation of toll charging both through mechanisms that will be new and more effective. The app, for instance, the application, the driver that goes through the toll booth, the toll barriers, and do not have the tag, they will be able to pay through the app. We have two labs working on loyalty programs. The ViaLagos that has a tariff that is considered expensive and by contract it doubles on the weekends. We are working on that so that our clients actually have the opportunity to have a return of the tariff with discounts on many a type of business, such as bed and breakfasts, establishments, gas stations. We are going to expand that to concessionaires to mitigate the feeling of paying, but having a return. The roadway south, we have our relationship with the truck drivers that is marginalized. We try to resignify this relationship. We understood actually that it's not the price of the toll. It's actually the return of over that investment to have proper bathrooms, to have clean establishments and so on. We are working on that. These rest stops actually are very important to gain the trust of the truck drivers. This is to make tangible and understandable in clear terms what we have been done. Now I will go into what is CCR Rodovias. With the main challenges and a certain level of accountability as well. This reorganizing of our structure is based upon a matricial model, meaning that we have a structure that will enjoy all that is available in terms of resources, more timely, more autonomy. What means Marco having left? Well, my response was that the company has autonomy, and it means that changes will not change what has been agreed upon. We'll have engagement from the teams, taking down boundaries or breaking roadblocks between the units. We'll try to I have an effort to standardize what is unclear or not working with the level we expect. Mr. Fausto is the manager of operations that is responsible for all operations. The OpEx of future investments are under his wing. Ms. Thais, we are going to investments in the order of BRL 5 billion, which previously was in the order of BRL 2 billion. There is something to be explained in this increase. Therefore, this integration comes from this purpose. We are ready to deliver what has been contracted and hired. This team works in great integration with the team that is under Gustavo, our business director, and who works in the redirecting of our planning. That is described in our planning. We have been well successful. Investors keep on asking, how is in the whole vis-a-vis what had been planned for? We are very much satisfied. We have an intelligence that is very assertive. We can have more precise estimates. We have the ASU, the base date, is very soon. We have 5.5% above in terms of our goals to be accomplished. We are above that planning. The coastline roads are in line with what had been hired and contracted. Assets, new ones. How is São Paulo? São Paulo, once again, vis-à-vis pre-pandemic, comparing the years, commercial vehicles have been a great flagship in our business with e-commerce performing rather well in our roadways, even with numbers that are above our expectation. On the whole, there's still a lot of work to do, especially when it comes to commuters. The population of commuters is also adapting to this new normal, the home office and all the changes that came along with that. We hope to go back to the standards of 2019. I will not go into operations. It is working rather well. We haven't had any problem to deliver as per our agreements and our promises. The Rio-São Paulo roadway is a major challenge, as Marco mentioned. We want to have BRL 15 billion in CapEx, and the Rio-São Paulo is a roadway that is our pride and joy, is a milestone. There is another change that is important. The engineering of CCR. We have the shared services center, including engineering, roadway engineering, and port engineering. Port engineering was worked on aside. The relationship between the engineering is under the umbrella of the engineering as a whole. The responsibility for the execution now falls under our job description. Rio-São Paulo is benefiting from innovation pre-bidding during studies and concession. We have now players that are strategic in terms of partnership. Serveng, that is a powerhouse, and is very important in the Paraíba Valley. Engepak, that was responsible for Tamoios roadway. We have Engepak as well. We set the prices at one specific point, and we have a mechanism of risk-sharing with specificity so that we can work to lower those prices. These investments that are key, they have set prices. Now, cost overrun, we have to take into account and be extremely careful not to go over what has been defined, and as I said, set by contract. Further to Rio-São Paulo agreement and contract, we have the Costa Roadways that actually takes advantage of those other contracts as well. I point out the state of São Paulo. We have been talking about this potential construction and work that would have to happen. They are contracted, they are agreed upon and set as per documentation. We have prices that have been agreed along with the government of the state of São Paulo. Milton, Jorge, these promises will be accomplished as per promised. I hope you understand the map here. We'll extend the marginal roadways until the second way of Barueri City. It is a bottleneck. The traditional weekend has major jams due to that bottleneck. We are to resolve that, and that has already been agreed upon. Flavio and others have mentioned some other concern, and the investment that has not been dealt with yet. We have seen inflation on the costs, and we've been asked what we intend on doing to act upon that. It's not only costs, it's the availability of suppliers, consumption, the supplying of CAP, asphalt or tarmac. We had to and ended up buying from Russia. Due to the so-called war, we had to cancel that purchase. What we have done after all, we have looked for new suppliers, trying to develop the productive chain in the regions we work. We are preparing and putting together new suppliers. We have governance and compliance training through the Fundação Dom Cabral to our outsourced and our partners. As I mentioned in the model Rio-São Paulo, we have partnerships pre-bidding. We incorporated that as a practice, and we have worked with our engineering, and so we have to always be revising our engineering of projects. Some themes we are actually intending to bring to our structure to be under, also under our umbrella. We have a plant of proprietary tarmac production that aims for a set number in savings in the order of 30%. This plant will serve a very specific region with a viability for the benefit of this project planned. We have worked, we have expectations, we have work along with the regulatory bodies and the regulations. There is an extraordinary character within what is happening, and we are looking for a proper balance. We have a team here, even from the perspective of the clients. The contract of the Rio-São Paulo roadway has some innovations and a lot of new aspects. I'll point out two of them. I think it has been a very successful what we call DUT and DEF. DUT discounts the user tag, and DEF discount over a discount offered for frequent users. Clients that are actually frequently going through the toll booth will have some sort of benefit in terms of discounts. It is included in the contract. There is a clause there that deals with that. Free flow now. March 2023, despite Rio's São Paulo roadway forcing free flow, for those clients that want to migrate to the expressway have foreseen within the contract as well, the free flow as per agreed. We have our boards with a good level of acceptance going on to that, especially on the aspect of moving from the roadway Rio-São Paulo onto free flow. We'll have three toll barriers that are planned for, and within five years, we are planning on to implementing free flow. We're not going straight into that right now because it has to be tested. We have to measure the results of a free flow policy. We have to see how users and all sides involved will react. In March 2022, we'll have the first free flow on Rio-São Paulo roadways. Then we'll go on to a more challenging territory, São Paulo, the metropolitan area, which is clearly more of a challenge. Wrapping up my presentation here, still on accountability. We have, along with the state and city government, a policy of clearing up the still standing liabilities. We had liabilities from both sides. With the changes, we have expanded the deadlines of the contracts. The duration went from 9.9 to 14.9 years after the amendments in the contract concerning 2022. We have within the agenda, COVID. ANTT has published a directive that mentions COVID-19, and it will go on to an ordinary decision next year. Still in the line of liabilities, we are abiding by an agenda of organizing the house, putting the house in order. We are working with equations that will standardize and organize fines, for instance, for the upcoming years. We have an agenda that we want to have properly organized concerning Via Dutra and others. We have had good discussions and very profitable meetings in terms of this sense. We have Rio-Niterói. We are still dealing with a liability of BRL 4 million-BRL 5 million. We want to deal with that and keep going. My time's up. Márcio, my dear colleague. Good morning, everyone. This is my first CCR day. I'm going to introduce myself. I have a degree from ITA in electronic engineering. I have an MBA. Then I worked at Booz Allen as a consultant, and then at Vale as supply director and capital management. Also I was the president of Hyundai Caoa. I became to the corporate world as the president of VLT Carioca. As CCR acquired the VLT, I was incorporated by CCR, and from January, I became the president of CCR Mobilidade. Just to recap, we have in our mobility assets, we have the Salvador Subway and VLT Carioca that are two PPP. We have line 4 of subway in São Paulo, that's a partial PPP. We have two mobility lines, 15 and 17, and the metropolitan trains in São Paulo, they are three constructions. Also boats in Rio de Janeiro that connect downtown with Niterói, Ilha do Governador, and Paquetá. Besides the other boats that connect Ilha Grande and Angra dos Reis. We talked about the 3 million passengers per day in our mobility unit. This number was pre-pandemic. Now updated number is 2.4 million passengers per day. We have 134 stations that includes the boats. We have a railway with 164 kilometers and 70 to 100 of collaborators, and we are the biggest subway operator in Latin America. In terms of mobility demand, talking about the pandemic period, in 2019 we had. This does not include lines 8 and 9. This is why it's different from those 4 million. This is the average from January to June of each year. In 2019, we had 1.8 million. During the pandemic, we went to 0.8. In 2021, we have 1 million passengers per business day. This year we have 1.3 million passengers per day. This number is increasing as the. This is the first from the previous slide. We had almost 50% decrease compared to the pre-pandemic period, but this does not reflect in our collection because we have a risk mitigation article in our agreement, which compensates for this decrease that we had during the pandemic. Francine showed the satisfaction level of our users, and this is what we want to show, that we want to improve the client satisfaction. The operations that we have that we've been operating for more time that are the Carioca VLT, ViaQuatro, and mobility lines 5 and 17, we have almost 90% of satisfaction. When you get these lines 8 and 9, that is a new line that we have started operating last year, then we have 44% of satisfaction. This is why I'm going to focus on lines 8 and 9, because this is our biggest challenge, to improve this infrastructure and the satisfaction level of our clients. As Eduardo mentioned, we've been acquiring scale in mobility, what allowed us to reorganize the mobility unit, because as it was done with the highways. We centralized the support, and this makes it easier to incorporate new assets. Every time you have a new asset into our portfolio, it's easier to incorporate because they have to deal with the operational issues since they already have a support team to absorb this asset. We have in engineering more than 200 professionals. This is the biggest engineering team per meter in railway in Brazil, which allows us to grow even more and absorb these challenges that is with lines eight and nine. Lines eight and nine has doubled in number of highways because they are 74 kilometers long. So we can deal with it. This team works with the optimization of new projects and new maintenance levels. These units were focused on maintenance and operation because we are trying to improve, always improve to provide a better quality service to our clients. I'm going to talk about the lines eight and nine. These are very added slides because we decided to bring some working slides to show you how difficult it is to improve such a big infrastructure. The operation that carries 4 million passengers per day with a very strict maintenance window because it ends at midnight, and at 4:00 A.M., it starts operating again. We have this very short window to do these improvements in the assets that we received. The investments are BRL 3.9 billion. These investments are going to be done in the first three years of operation. About the recuperation of this, the trains. We bought 39 new trains from Alstom, and we're starting to do the documentation just after April 31, in May 2021. The manufacture of these new trains started in March this year, and we'll receive it in December this year. From then on, we have a new schedule that goes through 2024, January 2024, to complete these 34 new trains. Then we have to test them until we're safe enough for them carrying the passengers. This is a perspective of the new trains. They have a very modern design. They are lighter also, and so they consume less power. They also, they have, they are more comfortable because they have larger windows, and it's easier to circulate in the trains, which is not the case in the current trains. They have dynamic maps of the lines, video surveillance, fire detection inside the train, and some automatic controls that facilitate the operator and improve security, safety. This is internal view of the train. This has been customized with Alstom already using the colors of lines 8 and 9 for its operation. This is the family of the first trains. They are being manufactured at the Taubaté plant, generating local employment and keeping our railway industry active in Brazil. It's important for us to have local suppliers. Also important to stress is we received from CPTM 61 trains, from which 40 of these 7,000 train series that are older, and according to this concession agreement, were brought to lines 8 and 9. We also have six trains from the 6 and 4 lines. We have 7 trains from 8,050 series. The idea of these 36 trains is that once we have bought them and when they are operational, you deliver those original trains, and we return them to CPTM. Before we have to make a review, a general review of the trains that is that schedule that you see there. Each revision takes 2 years, but I can do that only after I have the new trains ready. This schedule goes until March 2031 for us to make the revision of these trains and deliver, return the old trains to CPTM. First we have the challenge that we have 40 old trains circulating in the same line, 8 and 9, to operate. It is very difficult for us to recuperate the operation of these trains to provide a service with a minimum level of quality. We have done these review, the electronic part of these trains, 90% of the mechanical parts, and 100% of the electrical parts. Because we are going to operate more safety and better service quality. We have to remodel these stations. We have 38 stations, and all of them, they have to be recovered. We also recovered all the public bathrooms, 64 in all the stations. We have 3 million square meters that have been cleaned. Now you are painting these stations. For now, we have 38% completed, but this will only finish in December next year before. This is one of the stations that has been recuperated with new signs. We have the aerial network that is that energy cable that goes over the line and also the rail is what we call the permanent railway. We have more than 100 kilometers of these, 157 kilometers that we have to inspect and recuperate. This is our schedule of permanent railways. We've done 100% of the inspections and correction of the critical point. We recuperated 40% done. We had some delays because of the pandemic and war, we have some delays in the supply. We're trying to do this to change these critical points until January next year. In the case of the aerial line, we had 32% of the inspections and corrections made, but also we plan to finish the critical points until January next year. This is the image of the maintenance of these things. A lot of this has to be done in those four hours of operation. This is why it takes longer to complete these operations. Finally, signaling that controls the operation of the line, controls the train, and gives the information to the operator, the train operator. We got the system that's from Siemens that is based on relay. It's a very old system. It's no longer in use, and we need to develop this project to replace it with a modern system. Lockout is what avoids that a train goes into collision with other, goes into the red light or opens the door into the wrong side of the platform. This makes a more safe operation. We also received the CCR from CPN, and it's going to allow us. We're going to do a new one also. The schedule goes until October in the development of this project, and these systems, replacement of the system is very complex because they have to keep the operations running at the same that are implementing a new system, and this is connected with the safety of the operation. We install and test this system until August thirty-first, and then we have some improvements that have to be done until January thirty-first. Also some results here. These, you may have. In April, March, when you did this, survey, it was a very difficult period because it was still trying to recover those trains, and it didn't have a new poll survey to show. To renew the. We decided to bring the number of complaints in our ombudsman. We have lines 8 and 9. We had an increase in the complaints in March and in April. After we started improving the infrastructure and service, the number of complaints decreased, and this is how we do continuously to get to the satisfaction level of the other lines that we operate. We start having some good positive claims in our ombudsman so that it proves that these improvements are being perceived by our passengers. Let's just talk about our rebalances, not talking about lines 8 and 9. It's about mobility as a whole. We had some opportunities for rebalance to be discussed with the granting authorities, and the first one was concerning ViaQuatro. That is the imbalance of phase one and extension of EMTU line in compensation of delays in phase two. This has been solved and signed. Another relevant balance was a broad imbalance between the Category A and B that we have in ViaQuatro, the imbalance of the lines and the BOTs. It's an imbalance due to the lack of authorization to adjust prices. We are still discussing. We're probably going to solve it this year. We also have an extension project that is in red in Metrô Bahia. A pending resolution in these negotiations, it has to do with the COVID pandemic. The main debating about the terms is with the government of São Paulo that we have until January 24th have discussion to discuss this discussion concerning the pandemic decrease in demand. We're talking with the municipal government of Rio to decide the VLT imbalance. I'm going to turn to bring Fabio and Monica to talk about airports. Good morning. I'd like Monica to introduce herself. My name is Monica Lamas. Good morning, everyone. Commercial Director for the airport area. I've been in this operation for 1 year. I'm here to face this challenge. Before that, I was at Guarulhos Airport, and I'm honored to be here. I am Fábio Russo, I'm President of the CCR Aeroportos. I've been in the group, with the group for a long time. Before that, I spent 3 years as the President of the highways. That has been recently joined with the business, highway business. The challenge that we have here is very interesting because we have to create an airport business, relevant business, as we did with our highways in the last years and with our mobility business. Our business started with the acquisition of participation in three airports outside Brazil. Next two, we won the bidding for the Belo Horizonte Airport. We were not operator, and recently we have also won this Pampulha Airport, it's a state concession. We are progressing our strategy to build an important, robust airport business. Now we have the operation that are these in Brazil. We have a very qualified team, a very experienced team, and I want to have Monica Lamas with me to talk to make this presentation so that you can get to know the team that is facing this challenge. These airports have vertical ties and are distributed throughout Brazil. We have this challenge of operating and managing these airports at the same time that we have to manage the participation that we have in the airports outside of Brazil. We have this structure more practical to allow our growth. We've done the same thing here. We have this structure where we operate on one hand, and we deal with the strategic issues in our central office. We have four clusters. In São Paulo, we do all the commercial negotiations. We have the relationship with the granting authority. It's a flexible structure that allows us to grow with scalability. We can ensure that best practices from one airport are applied to the other airport. We started to grow and have the best way to operate airports that are spread all over the Brazilian territory. CCR Aeroportos is a relevant player. We have 43 million passengers. As you've seen, the last round of airports bidding in Brazil became quite big. They are spread, as you saw in the map. It's a relevant business also with the relationship with the airlines. We have 200 regular routes. It's also important for the retail players that operate in airports. This is something which is led by Monica and by the rest of the team. I got to this business three months ago. I'm very proud 'cause we did a transition from Infraero to CCR Aeroportos, 16 airports. We did it at same time and we didn't have any problems. This seems to be very simple, but there is no case in the world where this was happening. In even cases when we have smaller number of airports, we are aware of several operational problems that have happened. This was something that is very relevant. Now we're going to show you some photos. We did the first investment that you do when you're getting to the airport in order to improve the service to our clients. These were done without any problem within the budget and established timeline. Also had several certifications by ANAC with no problem. Nobody was able to do this in Brazil and in a smaller number of airports in the world that we have. This shows the quality of our team. Nobody has done that in Brazil before. I'm going to show you some pictures. This Phase 1A is for us to improve the level of service, improve the level of safety of the airport. This is the airport of São Luís. It's a wonderful region with a very high touristic potential. Now we are trying to invest for the 1B phase of the contract. We have 3 years to do the investment. In the case of Curitiba, we have 5 years because they have another track to build. We are in very final phases. We are going to sign this construction contract next year. With the project that we propose to do that according to our business plan. We had some challenges. We have a very high inflation that was higher than the IPCA with a lot of studies and work, reducing some costs to some places, optimizing other investments, we were able to absorb these amounts and we will continue with the budget planning. Just the investment with these, we are very able to do. The most complex investment is the new track in Curitiba Airport, which is far from the current track, so we have to improve that. This is something simple that we can do. For example, Londrina has another taxiway. We have patio improvement also. Teresina team, they have a new terminal to build. In all these we had, the airports were out of the standards. The terminal was very near, the taxiway was near. Due to this terminal have to do this. Of course, when doing this we build a terminal much more balanced. This is being calculated, well mapped. We talk about COVID. The BH Airport, that there was another taxiway to be made, but this, all the topics have been dealt with. Now I'm going to talk about demand. This is for the first semester of the year. We took over the airports from March, so these figures are from January to June, but our share of this business starts on March. We see the recovery of the areas. The industry have the growth of 81%. In the first semester, we're still 21% to the pre-pandemic figures. Here we have two important points. First, we are recovering from COVID, so every month we see a bigger offer of seats. Some routes are coming back, some routes are new. There is a trend for improvement in the market. Also there's the season. For those who work in this know that this is a seasonal market. December, January, July, January and February are high seasons. We believe that we're going to have a very good high season. We have index for the market. We see that LATAM has been kept at the very high. Will keep all the same seats until the end of the year. This shows us that there's going to be specific flights for cargo, but we have some important airports in terms of cargo. Curitiba is one of them. Goiânia has a hub for pharma. Curitiba is the third or fourth in terms of cargo in Brazil. It's bigger than Confins. It is operated by us. We also have some Navegantes. Indeed, they are very relevant in terms of cargo. We are much above the business plan. It's just this. With the cargo market is higher because of logistics. The cargo is flying in the city airport. It's not different. They're very well in terms of what has been put in the business plan, some years ago. We've been operating in six months, and since these are some of the agreements that we have in terms of food, we received airports that were with a very low population. They had 39% of the population of the airport, the rentable area. After two years of pandemic, some of the had gone out of business. So we had to give the passengers some options to have some food, waters. Company, the airlines did not have any food on board, and they didn't have it in the airport. Our network is big. We have some 4-5-hour flights. Our first concern was to sign agreements national agreements to impose to small airports. If you want Curitiba, you have to take Magé. We have this business contract to guarantee that we have an offer of 5 free and unlimited Wi-Fi. We pay this by using the Wi-Fi advertisement. Everybody knows that cell phone is entertainment in the airport. Also, with executive aviation, TAM Executive, but its maintenance service has it in Goiânia Airport. It's very important. We have more than 100 contracts for hangars. They have airport, airplane sharing, and it's very relevant for the deep Brazil that we have the soybean and the agribusiness in the Goiânia business, Palmas in other airports. They're very relevant in terms of executive aviation. We give a lot of stress to develop that and to have some app for the pilot can book a taxiway and improve the payment process. Here are some slides of the years from the QGDS. They are present in all airports. Parking. We have a big agreement with Sapa of year-long. This is going to get the parking for 11 of our airports. We are delivering this parking to Sapa as the old contracts have ended. Sapa has the commitment to invest and to improve the parking to get to our quality standard. Last, we have this campaign that we're doing with GOL. This is with the flight that leaves Uruguaiana and goes to Guarulhos. Uruguaiana is on the border with Argentina, via Argentina. We are doing this campaign partnership with GOL in order to leverage this flight. As we had Uruguaiana with only one flight that would fly to Porto Alegre, we use this GOL flight that leaves Uruguaiana and goes to Guarulhos. Then we have a huge number of connections. Now we're going to a third flight from Uruguaiana that goes to Florianópolis. We go from one flight in this airport, and now we have 300% growth. This is our challenge of operating these small-sized airports. One thing brings another, so as you bring one, have the second and third, and then we have a better demand from the airport of Uruguaiana. I think, I believe this is what I have to say. Monica explained that it seems easy, but it's an incredible work of branding and new routes and branding the company to bring to Uruguaiana, and not only in Brazil, but in Argentina, and bring the retailers, the negotiation with the parking. It's an incredible job. I'm learning a lot with my team, and thank you very much for your time. Thank you, Fábio, Monica, Eduardo, Márcio, Francine, who started this last round of panels before the break. I've been to some highways recently, and the region, it has major potential. Lençóis Maranhenses, the location is very promising. We have a break. It will be a very short one, 10 minutes. Those online, go have a cup of coffee, and we'll keep going. We'll keep going with the sixteenth CCR day. Thank you. Hello, everyone. Welcome back. Let's resume an event that is not only presential, but is also being broadcast online. We have been talking about the five dimensions. We heard clients, shareholders, based upon this segment, very transparent and clear. This last, this second and last but not least important, we'll have a case through the voice of Mr. Tonico Pereira, Director of Social Responsibility. We have the metro lines of Bahia. The impact in the lives of those who benefit from this new means of mobility is major. Tonico, floor is yours. He's our master of communications. Good morning, all. It's a pleasure to be here with you. I thank you for your time expended to be here. This investment of time, this investment of attention, I hope you are happy to see our interpreters of sign language. Our colleagues overseas are getting translation. Those with visual impairment, we have orange and some reddish panels. CCR Day is yellow. Those are colors of giants that bring development to Brazil. Itaú, Bradesco, Mercado Livre, the first two high street banks. I'm wearing a dark blue coat and a nice pair of tennis from the city of Pirarucu, from the brand Aslan. Ana Penido, our Chairwoman, we are about people looking after people and do that very successfully and with a lot of talent. Thank you, ARTESP, ANTT, ANAC. All of you that along with the investors markets and communication means help our development of the human asset through that. Social transformation is a driver that brings cohesively all these important parties together. We have shareholders, we have clients with diversity, as Cecília mentioned, and incentivizes in our fiscal board through our best practices, when it comes to B2B, B2C. Mr. Dutra's strong hands always backing us up, will show to you what 10 years of investment in our of our assets, and I'll share with you profitability of rentability, but above all, social development. This is life as it is. We talk about human mobility. We have coined human mobility because this is what we do. We deliver value to people, to the end user, the worker. In other words, our own, how the least of the investments will turn out in gains, profitability in the GDP of these locations. You'll see here Salvador, Bahia as a state and others. Within the wonders of what I've just mentioned, when you move from Mussurunga to Campo da Pólvora, which is a location under that name. Not only we took 10,000 vehicles most of the time out of those streets. So you can only imagine what this investment actually means. It's a private investment. Sell-side, whatever that may be, it ends up in the CCR side. When we talk about that, we talk about security, safety, and respectfulness. We talk about multi hundreds of people. During my time here, I'll deliver relevant information, and in this meantime, 75,000 people will have enjoyed our assets. We had a study led by Luana, Jose, and others with Professor Gervásio Santos from the Instituto Miguel Calmon, along with the Federal University of Bahia, the University of this state as well. What have you done in less than one decade? We represent 0.6% of the GDP of Salvador. If we talk gross results, 26% are per real as a currency of invested. Go to B3 and buy more shares. Borrow more, buy more, because we are about people, and that will pay off. In the GDP Bahiano, we mean BRL 4.9 billion. If we consider the GDP figures that remain there and what actually ends up in other parts of Brazil within the gross value of production, that is spectacular. There is a second part that is being done, and you will see all of you what it means at large. We will show you next year how far we'll get. We are talking even Pix, the new means of money wiring. We will show here, and we'll be available to all of you. Two-thirds of the income that we generate stays within Bahia. That is actually the real win-win. That is investment, that is about human beneficial investment. It's a win-win. We have CIPA, which is a trademark as well. We are paving a pathway with more women, more inclusions, more Afro descendants, eliminating prejudice. We have that. We have history, stories of Metrô Bahia. You will enjoy that as well like stories of Dutra.com.br. I will wrap up with a video. You will understand what they do. Thank you for your time and for caring for what we have to offer you, human mobility. CCR Metrô Bahia, human mobility. It has subtitles. Those listening in English, please note that there is subtitles in the video. Thank you all. The floor is now with Rodolfo. What a nice accent. That speaks so much for that region of Brazil. I was listening to Fábio, Monica, Eduardo, CCR. As Márcio mentioned, taking on lines 8 and 9. Service-wise, CCR is very capitalized, and these standards shows that we leave many a Brazil within Brazil. It has to be standardized throughout the country. You can only do that with people properly trained, a board of directors and committees that are all well aligned, and that's why the employee is so important. That's why I'm calling Luís Tomé to talk about people and management. It's a pleasure to be here with you. I'm Luis Tomé. I've been at CCR for 1.5 years, I guess, at this point. I've seen a lot of transformations, and along with that, we have evolved in terms of a culture. I would like to talk about culture, about what we have built over these last 2 years with the construction of our mission. Marco Cauduro has mentioned that that is about being leaders in mobility, and we'll talk about that as well. We had a discussion, a rethinking, through Viva Seu Caminho. Enjoy your way. In other words, we have six values. There's one, security. This is a sine qua non demand. This is a very important value. We are main players. We act in a very integrated manner. Ethics is nonnegotiable. Leadership. This slide briefly explains how we work, our purpose, and what are the values, the basis of it all, so that we can grow and deliver the best possible results. When we talk about employees that we call ever so carefully as collaborators, because it's about collaboration. We have more than 17,000 throughout Brazil, 1,800 in the international unit. 63% males, 37% females. 30% or more of the positions of leaderships are by women. 727 leaders throughout Brazil. It's very robust, and that delivers this quality that you are observing here and hearing from our people. I'd like to share with you a competence that is very strong at CCR and very critical for our business. We have four main projects. In the last years, projects. Since the very signing of the agreements and contracts, we have very few months, 6, 7, we have to deal with training, hiring of hundreds of people. Here we have some examples. A very important point, 4,300 job posts. Out of that 40% from internal staff trained and prepared to take on new challenges. We tell a little on each project. Fábio and Mônica commented on that. We have a very short period of time. 740 staff members, more than 5,500 hours interviewing people, and 89,000 hours of training. Lines, train lines 89, 2,300, even above that. 336 collaborators. Last, CCR Rio, São Paulo, 921. This is a huge work that proves its competency to mobilize very good teams and hire and train very good people in the market. That shows how well prepared we are to face new challenges, either to give opportunity to our team or by looking for new collaborators in the market. Also the technical capacitation of the person. It's very important that this person is aligned with our values, with our culture, and we have a very well-structured process, where 100% of the new collaborators go through this process. There's 17 stages to ensure that these people are aligned with our culture, values, and purposes. It's a very well-done work that allows us to take over new operations in a short time and with good quality. This is our CCR Academy that enables these training capacitation. Besides this key process that is the integration and mobilization, we also have a people management process. We call it people cycle that is aligned with our culture and values. We start by attracting and selecting people, then we have performance management targets and development. We have the CCR Academy and the CCR way of leadership. Next, the development of these. These are all very strong and robust processes that ensure that we have very well-capacitated, motivated, engaged team to deliver always the best service. There are three processes that I'd like to highlight. Succession planning that is under development. We have the succession plan that is well-structured. It is discussed with our board and reviewed every year, where we can prepare people to grow in the company and ensure the succession. Also, the CCR way of leadership, we define what we expect from the CCR leader and to prepare new leaders or the existing new leaders. Also, the CCR Academy is our big umbrella where all the programs are structured. This is a process that is in continuous improvement and to ensure the best people and the best delivery of our results to our clients. Also important to share with you is our engagement journey. This is under the collaborator pillar. One of our indicators is the engagement. We've been working with this process for two years. We started with a survey in 2020, when you have the 80% result of favorability, and you're evolving not only in the results, but also in the listening process. We are getting closer to our team, and we can understand their pains to try to solve and improve the process. In the first quarter, we did the pulse. This is a survey where we have a continuous listening process with 3,000 people in 3 units. We're doing two months. We were there listening to understand what were the opportunities and improvement opportunities. Our strong points, we had three 8.1 result, which was aligned with the first survey. In the second quarter, we got certified by GPTW with 84% trustworthy index. It's a very relevant, very good result for a first participation. We're improving this listening process. In September, we're going to unfold this to 100% of our collaborators, then we'll be able to to better understand the opportunities and see where we can deal with in order to improve this engagement. We know that engaged people work happier, and they deliver better results and better experiences. There's another journey that is ongoing, but we can see that the process is evolving. Another process that is also important to show you is the safety process. This is a new project. We started it about 1.5 years ago. We focus on safety. We have a partnership with DuPont. We have a joint project, 3-year-long. We invested BRL 26 million. DuPont today is a world reference in transformation and in processing when talking about safety. This is our goal, to change the safety culture, to make sure that people are working in a safe way and that safety is a key factor in their work. It's a medium to long term per-term. We can notice the engagement of our leadership. We can see a lot of things happening, and we can see also some results. Although our goal is much more, is to get much more than this, our goal is to get zero accident rate. We have the TFCA accident frequency with on-the-job accident with last work date, so we can measure this. Went from 8.64 to 5.54. We had 36% decrease in terms of accidents with last day of work. Safety is a value that we cannot forget, and we are evolving this pillar also. I think this is a very important pillar for the collaborators. This pillar is in our strategic plan, and we're continuously improving this process to together with the other pillars to get to our Polaris 25. Thank you, Luis, for your presentation. After the presentations, we have a Q&A section, so if you have any questions, you may take note. Now let's talk about something that is very trendy now and how we can implement this. It's being done, but with some awards being. We're gonna talk with Honora Lima. Cecília is superintendent, and she's going to tell us more about it. Good morning. I'm very happy to be here as an environmental engineer. Been working in the environmental and sustainability area for 19 years. I'm very pleased to be in a financial event. If I was told that some years ago when we started work in for environmental engineering, I may be dreaming of being here. Thank you for your attention. Let's talk about the Marco Cauduro, our CEO. He started talking about consistency, and this is what CCR represents in terms of ESGs. This slide shows how we prize for transparency. Márcio Hannas talked about, he said, our challenges in lines eight and nine that give us a lot of pride. Being a company that brings transparency, besides being a reason to be proud of, it also brings us. It makes us very easy to be here in front of you who are our investors and who believe in what we are doing and what we are going to deliver, especially when you think about sustainable return. This is a consistent journey. We follow globally recognized standards, and this is how we try to communicate to each one of you and bring of this peace of mind. How can measure the ESG? How to be sure that the company is performing and that it takes it into consideration with a lot of responsibility. How can we ensure together with our officers, with our board of administration, that we are paying attention to what is relevant to our business and has materiality in order for us to work in a preventive way, but also looking at the opportunities. Because companies and investors that do are with their feet on the ground, paying attention to what you're doing, but looking ahead to look into the future, they will have the best results. For that, we can have a very assertive materiality and see what our business bring in terms of impact and opportunities, and work this within our process. Because this must be a framework, this must be included in the process, and it must be across, something that works across all the other things. How can we ensure the governance of all aspects that may impact our delivery of each one of our business? When you talk about airports, when you talk about mobility, when you talk about highways, the figures are huge. For us to ensure that this consistency is always well-managed and that we can bring corporate integrity to our business, we are talking about this transversal to ensure that every stage of our process is well-structured for us to be able to measure these items in our process. I'm going to pick some words from Eduardo Camargo, our highway President. He cited a transformational process where we said that we talked about users and now we talk about clients. When you talk about sustainability, I remember that in December, I arrived, and you said that how surprised I was about what the company did and how discreet it is talking about a theme that brings a lot of visibility. Sometimes some companies use that in not a proper way. People who are going to make their investment, they study about the company. When I came to work, but I studied company, but I was very surprised in a positive way when I got there to start work. How did you make this transformation from with what happened in highways? When you look at the material themes and the commitment of our officers, when we unfold these goals to each of the process, bringing the accountability to their tasks, and bringing this commitment to the variable remuneration, compensation of our executives and everyone in the company. When you look at this as a collaborator, you have to trust the company where we work. Just like you have to be sure that the company is managing its risks and transforming them into opportunities. This is why you are here, and this shows this movement, because consistent is not something new with the company. Right now, we're turning the key to this transformation. We have a project. Climate change is a very relevant topic. CCR has always measured. If you have to show a commitment through measurable goals, we have to measure it in order to understand it. When we made this study based on the history of emissions, we said, "What would be our challenge and responsibility in terms of climate change and how we are going to deal with it in our business?" Right now, I can tell you that I'm an enthusiast of what I do. I do believe in my heart in what I do, but I also study a lot. I read Ph.D. theses in order to bring seriousness to the theme and not to lose sight of what we need and bring this balance about a long-term result, but not forgetting the short term. These projects work like that. We work today and focusing what you have to do. You have to to do the investments and to do mapping for photovoltaic plants in order to have a renewable energy, and how we are going to follow with prioritizing our commitment. When you talk about science-based target, we made a study that showed that if you can keep the climate change into 1.2 degrees, we'll be able to have a balance of our ecosystem and this balance for us, because all our business needs natural resources. When you talk about sustainability, we're talking about doing this, looking at this. When you look this decarbonization project, we were the first company in our industry to submitting our goals to SBTi, because we know that business as usual does not work anymore. We are waiting for our targets to be evaluated until November, and we hope to be approved and have our targets be approved by December. Now we can talk how the great risk is to look at the long term and don't see how we are going to get there. This is not how we work at CCR. Every time you're going to work to assume a commitment, you can know how we are going to get there. We are talking about how to prioritize the use of fuel. There is also this talk about electric cars. There is a technician that said that Brazil is one of the greatest producers of biofuel. What does make sense when you look at our country, when you talk about reduction of emissions? Would it be the electric car? You're studying this at CCR. This is a policy that we have to use only biofuel in our freight. We have power efficiency through panels and photovoltaic plants. As Márcio Hannas said, our trains are more power efficient. This is e-energy, also innovation. We also have the fuel consumption of renewable sources. We try to bring high heat that traces all the fuel, the power that we use in our process, and circular energy. We have some directors who are going to talk about that with you. This is a key point for us to deliver the best results for each of you in a sustainable way. TCFD is a tool that came from financial market. In the beginning, the banks used that in order to measure any risks related to climate change when they have to make a loan, in order to ensure that these risks do not affect their loan. We are doing until the end of the year this, in order to work with a lot of consistency in order to have data fact to guide our next steps. This is our consistency, to have consistency in everything we do. Forests reclaiming and other projects related fauna and flora, biodiversity in the use of soil. This is another topic that we bring to our project. Now, I'd like to talk about circular economy. Besides the potential for reduction energy, we can reduce the use of natural resources. We started evaluating what makes sense. We had fresado, that is a by-product when you do the maintenance in our roads. We are reusing that material to reduce our dependence on CBUQ. This is connected to the brand oil. We're connecting sustainability with foundation bridges. Now we are dealing with community. We have a lot of capillarity in our business. We will talk about social license to operate. I do not talk about management of human capital, that Tomé told us about it. I'm going to talk about the projects in the CCR Institute. CCR has always been concerned with how to generate value through a project. One of our targets, ESG targets is the expectation to reach more than 1 million people benefit with our project. We had BRL 24 million equity to invest in this project and BRL 24 million of incentives to use in our project. I'm going to talk about without governance, we cannot talk about social nor environmental. Even being an environmental engineer, if you do not have a well-established governance, we are not able to talk about social or environmental aspects, because this is the governance that's going to establish the process, ensure the integrity and ethics of our business, and will bring the investors and collaborators the assurance that we work with certainty. This is a new mindset for the company where we have the vice president. We have Pedro Sutter, is the vice president for governance, and he answers directly to our board. Yes, sustainability is a theme that is dealt with by our board. Even if we've only for 9 months with our board, every quarter I have an agenda with our board, and they are very participative, and this shows that this is a strategic theme topic. When we talk about the synergy integration, we notice that the company is well-supported. It brings this assurance that all the process have this synergy and have this risk management to make them new opportunities for our businesses. The engagement of people, we always say that without people, there is no business, whatever business. Engagement is necessary, and we do it by continuous training, and we believe what the company believes so that we all are going on through the same direction. Next steps. The company does not have one company that establish where we're going to and how we are going to get there. To ensure this sustainability and serenity, we have this pathway that we follow, and right now, due to the velocity that we have in the ESG topic, I have to study because I have some friends of the financial market that said, "You're going to be out of job." I said, "No, because I have to do whatever it takes, not necessarily in a company, but I study, and I know that with a lot of balance, we can get to better results." When you talk about CCR business and talk about human mobility, we have a huge potential to contribute with a low carbon economy. How many customers we have, can you imagine this huge number of clients in their car? Because that's the average that we have in São Paulo, 1-2 persons per car. If you transform these people that use our service, if they were going to their cars, we could imagine that quality of life would be worse, more time in traffic, and also it's much more pollution. When you talk about connecting sustainability and business, this is what CCR is looking for. What are the opportunities that we have in our business so that we can see that ESG is important, understanding that it can be a decisive factor, and sometimes it can be only a guideline. You know, this work was acknowledged. We are very happy when our work's acknowledged. We've been doing a lot of workshops to engage our high leadership or high management for them to understand our purposes. We have a project that involves our suppliers because we understand that it's not enough to have the best practice, but our supply chain, the traceability of everything that we have with our partners is also in synergy with what the company believes and what the company works. This is talking about our reputation, and this is what we work. I'd like to thank you and say it's very good that we arrived so far and that we are able to strengthen this ESG agenda and understand where it will lead us. Thank you, Ana Penido, for the presentation, for the awards. A lot of social projects supported by CCR. It's important that you get to know Museum of Tomorrow. For the Favela 3D. In Rio, the Museum of Tomorrow is under the management of Mr. Piquet. Now, a very important part of the agenda to see a presentation of results. Our Director of New Businesses, Mr. Gustavo Lopes. Good morning, everyone. I'm Gustavo Lopes. I am an economist by training from Stanford. I'm from Portugal. I think my accent speaks for itself. We have interpreters, so that's okay. I've worked for 15 days in a consultancy as a director of investments, overlooking the whole financial side of the company. Now I'm with you. I'll talk about the growth agenda, in other words, new businesses. I'd like to add a little amendment. It's an agenda of the company generating new businesses. It's not only myself. We have a lot of people looking after new businesses in many different areas, so each and every one of you is responsible for new businesses. When we have a project, we know literally next day or 48 hours later, tops, what whatever project and strategy means. That makes a whole of a difference. I've worked with many companies worldwide, and CCR is a special company when it comes to new businesses, as Marco commented on in the beginning. I will not go into many details here that aren't relevant because a lot has been presented. New projects is not an added up bunch of points of gain. Rio-São Paulo, the roadway meant bringing a contract with new with innovation, which is crucial for the pipeline later on down the line. We are acting on an asset that we know rather well. Lines, train lines 8 and 9 doubled our presence in a market that we know well. It's up to speed with these strategies. Airports, Bloco Sul, South Block, Central Block, and Pampulha, having a participation. We need critical mass. If that's what we need, that's what we are after. That's why we are bringing these amendments. They actually are about putting the house, clearing up the house, and putting things in order so that we are properly backed up legally speaking. We are part of a strategy that works on assets, minimizes liabilities. That's why they are important aspects, M&A, mergers and acquisitions. We also have recycling of capital here with added value. This is a lot to do with a logic of reviewing the capital. Businesses have four topics, new projects, that's what we think, bringing in new projects. The repercussions, not as much. We are strategizing initially in bringing in new and good projects, and we have four types, biddings, amendments that may bring new investments. Sometimes they will deal with assets and liabilities sold together, M&A, mergers and acquisitions, and greenfields. But per se, they are not enough. They are new businesses because they are not seen on the day by day. We talk about societary traffic. Many platforms that were built, talking about primary, secondary levels, bringing in new assets. For special projects. They are transforming by nature to maximize the gain of the company, and they derive from the scale of things we have to do. The agenda of innovation through the company, we have many an example here. We have airports and so we are innovating, and the idea is to give it some boost and some traction. I'll illustrate this point and the Q&A will clarify it further. New projects. The pipeline, roadways, ports and mobility. Only these projects that we are mapping, we have more than BRL 230 billion in CapEx. It has an advantage and a downside. We have to be very detailed, and we have to make good decisions in the allocation of capital. Very clever. We have to select the projects that are priority and what projects are not ideal at a certain point in time. This discipline of capital is difficult, but in a logic of allocation of capital, we have to be wise in the allocation of capital per project. They are projects that we have within our radar, studied in detail, for more than two years dedicated to per project. Not only in Brazil, but in other major companies is the background of the professionals that are dealing with this. Sometimes we feel that when we have the bidding in the bag, the business is done, but there is a long way after that. It's not all, but it's a good part because we have been studying. Everyone has a plan. Plan is this name because it means that it may change. We need a business plan for airports. We have made a lot of changes in projects. It's not only the business itself. We have risk. We have risk analysis, a team dedicated to that. We have Mr. Pena, Sergio. In the end, when we have the project. Societary, traffic or moving. That means that we have new assets, and they mean that there is a movement here within the assets network. Not only are we creating platforms, we are reorganizing on a corporate level so that we can attract partners on a secondary or primary level, operations-wise. Mobility, probably. Roadways, things that we want to do for many a reason. To step up the price of the assets, training, to prepare for future changes. Alienation, total or partial of assets. Things that allow us for providing dividends and not having to wait for 30 years for dividends. It was initially expected biddings that would include other areas of the United States of America. They didn't come within the time frame we were expecting. We have made investment, as you have seen, in a small part of the United States of America. That is the first step towards something much greater. There is always some changes and adaptations. Special projects, they look at the scale. Make the most of what we buy, the most above the average in the market. Mobility, due to train lines 8 and 9, we had to think about energy in a different way. We are top 50 in Brazil. Had we done it differently, it wouldn't have gone this way. We need efficiency, energy efficiency. We are looking at options of distribution of energy. What is left, we have to use our scale to hire, to contract concessionaires, and we have a retrofit. That needs a lot of traction. We are the best, believe me, the best operators of escalators and systems in Brazil. We have many an area in these projects. Built areas, we are talking about internationally 8%-10%. We have a lot of in terms of an increment to go above here in order to align. We have to multiply by ten. That is tenfold the modular real estate projects. We are thinking about services to our clients. It is to do with a lot of pressure. We work under a lot of pressure. Previously we were talking about retrofit mobility. Now we are officially on real estate. We work in square meters. The airport has 5 million square meters. Minus five, if I stand corrected here, as you can see. Now we have to deliver as per agreed upon. Now we have innovation. Innovation is not a word that I love, I'd say, but we have to have goals. We have to have created the PDI that started from scratch with 360 initiatives that CCR had before, but it wasn't called innovation. We monitored, we tracked everything to see if we have or had anything that could actually be improved and be accounted for as innovation. The maintenance of the wagons of trains, for instance. Suspension as a part, how often they'd had to be changed. That had to do with how much were filled with people, the different parts or the different wagons within the whole chain of that train. That is accounted for as innovation. We identified. It's a set of initiatives. We are focusing on these efforts. We have innovation undergoing the challenge of economy and fuel. I will wrap up my presentation, but we have a video now just to punctuate what we discussed. Human mobility. Those in English, it has subtitles as well. One of the projects is about future concessions or was BR-040, that is Rio de Janeiro. They received a notice from ANTT that on the second of September, it's going to be analyzed by the TCU and maybe next semester of 2022. I use a lot because it goes to Petrópolis, and these roads really need to be improved. This is one of the future possibilities quoted at Gustavo's presentation. BRL 31 billion of CapEx. Marco Cauduro said we have doubled this 5 million. How can you do that? How we can do this correlation with investors. I call Waldo Pérez, is the CFO and Director of Investor Relations of the CCR Group. Thank you, Rodolfo. Most of you know me. I'm Waldo Pérez. I'm a CFO and Director of Investor Relations for most of four years, electrical engineer. I worked with ABM, developing circuits for almost four years. Then I did my MBA and went to the finance market for more than 30 years in mergers and acquisitions. Also, I am CFO and CSO of an energy company, and now I'm here at CCR with this great challenge that we have ahead of us. That has been said several times. In last years, we had amazing conquests. We did our strategic planning. This planning was for rising all the initiatives that we want. Then we were lucky enough to bring the main business that were on top of our priorities to the company's portfolio. As Gustavo said, we still have many growth opportunities, both internal and external, with potential new business in the models where we operate, and also a lot of internal growth opportunities, everything very well-supported and with financial responsibility. This is the general pillar of our financial strategy to do everything well-supported, looking at capital allocation and our debt profile. The net debt to EBITDA, we have a limit of 3.5x. We look at this in a very careful way, looking not only at today but for future projections and how we look at this in projects. We also focus on financial engineering, very sophisticated to optimize the returns that we have to our new business by structuring long-term financing with the best rate possible, best conditions, and always connected with our cash flow, operational cash flow. Then also we have the allocation of capital, looking at the metrics of risk and return, looking at this in an integrated way. CCR has been quite responsible in terms of leverage, business leverage. We have our net debt to EBITDA is very adequate for our business and from the fourth quarter of last year, we increased our debt because we had very strategic and relevant concessions to the group. For that, we have to leverage first and then grow the EBITDA with time. Coming to those 21, as you see, it's a mobility with an IRR from this node of 20%. Then we have Pampulha, here São Paulo, a leverage of 1.1, and CCR Rodovias, BRL 5.6 billion with their financial structure to finance the equity of those businesses. We want to try the best return for the group, but with responsibility in terms of leverage and also looking at the group's indebtedness profile as a whole. For the last two years or so, the duration of our debt is as long as possible because of the challenging Brazilian market. Most of our debt will be due after 2031. Our cash position is for the second quarter with BRL 2.3 billion, which is very robust that allows us to bring new investment. Looking at the maturity date, you see 2022 and 2023 and 2032 is because the bridge loans that we have for our business. 94% of the maturity is for new business and 77% are from new business also. This is a well-advanced work to refinance these funds with very long-term debt, so that we may increase the duration of our portfolio. These are the conditions that we have for each of these points and the maturity date. The priority today in Via Mobility, we have BRL 2.45 million, and it was BRL 1.8 million, and then we had debt that was foreseen in our business plan. We are working to refinance it until June 2023, and we'll probably be able to do this at the beginning of 2023. The next priority are the blocks south and central, where the maturity is March 2032. We have a lot of time, and we intend to accelerate that to 2023 and São Paulo for December 2024. Everything is very well thought and very well structured. We can do everything and deliver the refinancing. These are some conditions. We are working to restructure this, take out long-term debt in better condition. It will depend on the financial market at that specific time and how is the capital market, all the financing with the relevant participation of BNDES, the Development Bank of Brazil. They have a very proactive agenda for infrastructure and trying to make speed up these projects in terms of mobility to take out risk. We may have debt at CDI for 30 years because we are negotiating with a multilateral authority that works together with BNDES. Everything can change in terms of cost until we close this agreement. When you look at the holding, we also have a leverage profile very comfortable. The maturity dates are very, quite uniform. Maybe 2023 is the biggest, but we are addressing this. IPO, the maturity date at the end of 2033, but we are working to pay part of it and then refinance another part. We have some gaps in 2027 and working to close that and in order to diminish the refinancing risk. Dividends seem also important aspects. We had some recent years that were very important. We had a pandemic between 2020 and 2021, and even so, we consistently in 2009, we have always looked at the dividends from our concessionaires as one of the metrics or inputs to decide how much we should pay to our shareholders. We were receiving more dividends from the concessionaires than what we pay for our shareholders. Also, under our financial responsibility strategy. When you look at payout in relation to the net result for the year, we have a payout with very interesting payout for the company. You see 2020 and 2021, there was pandemic craze. We have a 100% payout when you see those two years. Even having had all these concessions, the last years, leveraging the company with refinancing the debt, yes, we have been able to keep the payout and dividend distribution quite good. Now I'd like to wrap up by saying our focus is not dividend and our focus, as you said, the Marco presentation, shareholder is a pillar, but it's all kind of shareholder return. You're looking and working to deliver a shareholder's return. We have a very clear target at Polaris, and to be able to deliver this, all the pillars are critical. Pillars that we see is engagement of collaborator, reputation as ESG, and the final customer. Thank you. Right. We are going to start our Q&A session, and I'd like to ask the team, get in the chairs up here, not only our presenters, but other members of the management. They're going to be here to answer any questions. Flavio Gadelha from Investor Relations. Tonico Pereira, please come to the stage. If you have any questions, we're going to give you the microphone. Also because we are broadcasting it online, it's important that you re-say your name and institution where you represent. Marco Cauduro, CEO, will have the microphone. While you prepare this, we have the celebrations from the Queen, so everybody is very keen on the issue of the Queen's death. Any questions so that we can direct our support team and send them to you with the microphone. We have three questions. We see two hands here, three over there. Name and the name of the house. Good morning. Victor from Bradesco BBI. I have two questions. First, I think Eduardo Camargo asked about rebalancing after the major wave of COVID-19 conversations with ARTESP. Secondly, the M&A pipeline. You just shared the slide. I know it is confidential, but there are the roadways and so on. What are the opportunities and your optimism is where? Thank you, Victor, for your question. I'm going to answer the first part. In terms of COVID, the ANTT and federal government, just as anticipated and have come up with a resolution, decree defining the methodology. They made a public consultation to define the methodology. In terms of the federal, we expected to have this balance in the CCR ViaSul, the only asset that was exposed to COVID. I think we are going to have that in March. In the state of São Paulo, we had a prioritization of the agreements, but we have developed talks with the state of São Paulo and probably the state of São Paulo, it will open a public consultation to deal with the topic in a broad. I think we've been doing that in the sectoral way with CCR. Let me comment on the M&A pipeline. The M&A pipeline is a set of opportunities that we see in our opportunities with capital, with some bidding processes and other opportunities. We see this pipeline in a reactive and proactive company. Sometimes we have that some shareholders are in the market, and we are, we're familiar with the assets, but they say that if you know the assets, you have to ask the CCR because we are very familiar with the assets. These are some projects that goes alongside, some have old assets. We have very careful. We have to be they have a reason for us to believe that we are going to manage better than the current shareholder. I think that models are highways and airports that they have new rounds of biddings, and then they have the consideration. Highways, we have a lot of things in the market. We always look at this, capital allocation logic. Is it better to do that allocation or to go into M&A? Next question, our recording reporter is sending online. I'm Gabriel Lobato from XP. First question, very soon you'll have new shareholder, Itaúsa and Votorantim. I would like to hear a comment in terms of strategy changes in the long run. We have elections this year. It is possible that the governor of the state of São Paulo change. For you, is there a component that you would comment on in terms of guidelines. Thank you for this. With the new shareholders, we have been about to close the transaction. Then finally, the new members of the board, I think this news is known. It's about the names. We welcome this, the management of the company receives with very good expectations. Business groups, they are very well situated. They have a lot of experience in capital allocation. I have no doubt that they are going to support our agenda and strategic plan. There is a plan, ongoing plan, strategic plan that has been duly built by the organization with its governance, both in the construction of the group, but also in the approval by the board. We expect to continue by learning with the competence, the skills that they bring with the new shareholders. We do not see any discontinuity with any new governor for the state of São Paulo, regardless of a new agenda, of new rhetoric. We understand that the business environment of the state of São Paulo is very mature, very solid, very strong, technical and objective agency, transportation agency. We had a very complex negotiation. It was very technical and transparent. Despite the beliefs of the new government, we believe that the institutions are mature enough to continue with this concession program that is so successful. This will not diminish our appetite for new investment and our trustworthiness in the business. We also have some online questions that's going to be answered by our CCR team. I have two questions here. The first that Leonardo mentioned, the concern of the investments. There may have an overrun of CapEx with the new project, Dutra roadway. You mentioned that there are contracts to be done and construction contractors have a margin that is very tight and this readjustment is feasible. My second question, future projects. The balance sheet of CCR wise, how much would you be prepared to deliver to these so many projects, BRL 250 million after all? Thank you. The first question means about the overrun of investment. I mean, our great concern is with ViaSul, southern Via CCR ViaSul, because our investment business plan is with 2018, so it had overrun. I'm not talking about the asphalt, but it's also the construction debt is reflected in the INCC. The most recent cases, we are very comfortable. We stuck about 22. Petrobras, although it had an increase in the cost of asphalt supply, today we're talking about deflation, so the costs are going to be accommodated. We are exposed at CCR ViaSul. We are dealing with that with several fronts, but the rest of our portfolio is totally under control. The project, as Gustavo mentioned in his presentation, we have an expressive amount of biddings ahead of us. We're still studying all the projects that are in our strategic priority. It's impossible to tell how many we can win, we are able to win. As we look at the risk matrix, the expected return, how much capital we have to allocate, how we can structure the financing and optimize the capital structure, and how it goes within our portfolio in order for us to take most synergy possible. First, you look at case by case, and depending on how attractive this project is, we decide to go ahead or not. Also, with discipline of required return and the risk/return relationship, we're very, very structured internally. Everything we do is with responsibility. With regard to partners, yes, we've been looking at several projects with partners. The seventh round we saw with some partners. We looked at some highways that have not been went to bidding by partners. We had new consortiums. We had the partnership with Austin, where we eliminated the risk. Also with the exchange exposure. We looked at São Paulo. We made new partnerships limiting our risk and CapEx, and we brought this partner to define together with us the premises, the financial schedule, the cost of input, the overrun that we use in our model. By the end of the day, we are open to new partnerships. We've been working with new partners, either shareholders or construction partners, and we still have to keep on growing. We have a bidding for next week, and we have a relevant pipeline in the future. If it's not going to the next, we have opportunity to go after the growth that we have learned. Next question up. Bruno Amorim from Goldman Sachs. I have a follow-up of a slide that you showed. You consider invest in other sector from what I understood. How is this decision-making process? What sectors are worth investing, and what are the ones that do or not? The biddings. We are at the moment with high interest rates and inflation. Have you seen the main players? Have you considered going into those in the long run or differently? I think there was a misunderstanding. We are not going to new sectors. Those are the sectors: mobility, airports, and highways. We're not looking to other sectors. There is new ways to potentialize within our assets. For instance, not property. It's not about the property, but it's property within our existing assets. Real estate is within our existing assets. We do not know what are the return of other participants. We know what return. We've been disciplined. We look at the return of the project in real terms, and this is how we look at each of the projects. The macroeconomic environment is being captured in such a way that when you do a projection of project return, because the current market position, whatever the best projections that we have in terms of VPD, of Selic rate, inflation rate, IPCA, all of them are embedded in our financial projections. With it, we get to do VPL, the return that we have. It's not only return. We look at the risks of the project, and if we are not able to mitigate these risks as we think proper, then we decide to increase the expected return. It's difficult to see what are the return of the other players, 'cause we do not know how they do their analysis. I'd like to add a point that is relevant. In the other biddings, it's an evolution of the model of contracts. There is a sharing of risk that reflects the raw material, and input, scenario. In the state of São Paulo, we see a clear evolution and updating, be it the price of the unit and the mechanism of the sharing of risk. I think this is an evolution that gives visibility to the sector and the project, even with the high interest rates. Next question in the other side of the room. Good morning, Pedro Bruno from XP. Mr. Marco and Mr. Camargo, you commented on the transversality, the model, the matricial model. I'd like to clarify whether that is only, CCR Rodovias. What are the challenges in the implementation, and when you see that happening or whether that is undergoing, gradually? How do you plan to take down these silos that were created within the company? I think there are risks of creating more silos, as opposed to what is proposed. Thank you. Start and then, Edu will talk. Yes, we do want to eliminate the silos. The change of the design is the first step, but we cannot change the design without changing the process. We have this redesign of the process of the company. This is a key element. Despite having a centralized structure, we had, due to this client relationship, non-defined client relationship, that was not very precisely defined, and it did not go through the SLA that the service center has to deliver. This led to the inefficiency of the process, generated a rework in the structure. This lack of accountability, where you do not have a well-defined owner for that delivery, person responsible for the delivery, also generate some increase the cost and generate inefficiency. We are dedicated to this transition. It's very careful. At the same time that we have an increase in the investment level, and we are doing this in every model, but this material change happens in the highway that was in the shared center. In the engineering of mobility, we had it in GEMOP because of its very different features. In the airport, it was a blank sheet, but now we have a dedicated engineering structure for airport. The process is evolving, is being implemented. It changed very fast, and now we're doing the fine-tuning. The benefits that I can show, as far as we see it, Gustavo talked about the scalability. We had an incident in the years in Rio-Santos Road, highway. We had a very high volume of rain, and we are able to reinforce this. This, we do not have any resistance from the other units to give us some resources to solve the problem with that at that highway. This is something that only CCR is able to do. Now we are standardizing the processes, and the most sensitive area is engineering because of the challenges that we have. We have engineering. We have two big areas. One is the engineering itself, where we have the projects, quality, designs, environment, and implementation area. These areas, they must talk with each other. To São Paulo, for instance, where you have the investment for Serra do Mar higher. We have a manager responsible for that, but the investment is going to start in three years. What the person is doing? Although he is in the implementation area, he is working with engineering 'cause he knows he needs to know what's the solution that is being designed. This role of ensuring the non-existence of silos and having this transversality is. Leadership is responsible for that. We have our management rituals. We have meetings very often in order to ensure that this management is well managed without any silos. Another example they had decided to buy a safety helmet because we saw an opportunity to improve safety. We bought this safety for some units. We decided to make it standard for all the units. I believe that this is the management of the CCR highways that is very cohesive. I'm the Director of Global Business Services. We're responsible for shared services and what we have is very good because within our strategy, I'm going to tell you what are the enablers, the organizational structure, also culture. These two aspects are very important for us to deal with this silos issue. This can exist either with a new structure or decentralized structure. It depends on the attitude of the collaborators in order to make this matrixiality work. Also have two other enablers. They use the management model and also have some new things that have been implemented and they ensure this transversality, that is the matrixial budget that makes us to discuss this in order to have a certain uniformity in these. We have some elements that, for instance, we have the material- Escalators, transport, elevators. Given our scale, we can provide a lot. In airports, we can take advantage of the current structure as of now. We have a fourth pillar that we would like to go deeper in the consolidation of information. Going to an evolution and the performance of the units. Any other questions? Fernanda Recchia, BTG Pactual. Roadways, directed to Edu within the initiatives, technologic ones, we have the diffusion of free flow. I would like to understand the main pushback that might happen is a default. How would you mitigate? Demand-wise, Monica mentioned that they are still at a very low level given the pandemic. If you could share some expectation after the pandemic. Thank you. Start with free flow. I think this is a big question. We will only be able to know by doing it. This is how we decided to make this a courageous step and making it clear that we are making this decision right to the place. First, because the environment is very controlled, the toll centers with a low volume of vehicles, low volume of commercial vehicles. This will go through an education campaign, then a mass campaign. We have in the contract an encouragement to use, incentive to use the tag. Those clients who have the tag are going to pay less. And of course, we have the enforcement. This is a partnership that we have to do with the regulatory agency and federal police. Highlighting that the agreement that the default risk is of the granting authority. Besides the free flow, which are the resources from the fines that from the evasion of default are going to be used to pay for this, eventual default. This is important. This is an important laboratory in three years, we have to do it in the metropolitan area of São Paulo. In Guarulhos, it's a critical region. This is why we have decided to put this investment before. We're going to give you some indicators why we expect a strong demand for the end of the year. LATAM in July, we have a very high season network because it will have school vacation, everybody travels. This was something that LATAM kept this network until the end of the year. This is an indication that the bookings are very good for the airlines. Also, from July to August, we had the fact that the three companies, the Brazilian companies, LATAM, GOL, and Azul, this indicated that we have an increase of capacity that together with the ticket price, the airlines are really being able, despite of the high price of the tickets, they are being able to sell more airplane seats through the year. Also the seats that on sale, we can say that with 100, it was 11 months before. If you go to the site and get to buy this seat, they are not going to sell the flight and then cancel that. They can do that. We can say that since May, we don't have any significant drop in the offer of the flights for the high season. This is a very good indication. Buy your tickets for the incoming vacation because there'll be a high demand. We've been growing through the year. We show you that graph. When you see the current numbers, when we have 10% below, that shows that we are recovering over the year. Of course, we have a change in the pattern with the hybrid work. This will not change. What we've been seeing in other cities of the world is a drop at 10%-15%. We cannot say that in Brazil it is, because in our lines we have different changes depending on the profile of clients of each of these line. There's also the reorganization of transportation. Pandemic affected the sustainability of all companies that work with the mobility in the country. This is fomenting the reorganization of transportation. It's hard to say. We do not have a crystal ball, but we believe that we have to optimize the transportation network. I think we are able to get more demand with this reorganization. We have one more question. Let's remind you that one of the most important part is that then we have a wonderful lunch, if you had gave us the honor of having your company. We invite you all to have a wonderful lunch. Good morning, everyone. Gustavo from Santander. Airports-wise, CCR was expected to take part of the seventh round in the consolidation of the scale of the company and the power of bargaining. In this sense, given this scarcity of this type of asset in this profile, also you mentioned that international airports, there is no intention of alienation or transfer of ownership. How are you dealing with these international airports? Firstly, the international airports. We're not looking at any opportunity outside the country, and we do not intend to sell them. With regards to Congonhas, Waldo has already said that despite the strategic relevance of Congonhas in the consolidation of two São Paulo airports, 32 million passengers per year, we look project by project. It's a very unique perspective based on its risk matrix. Within the considerations of risk and uncertainties, macroeconomic uncertainties and performance challenges that are not minor, especially in terms of CapEx, besides other known non-conformities that assets has, but they are very complex to be solved, the management and the board decided not to take part in that bidding. Based on that asset, we looked at project by project under a risk and return perspective, and we decided that it would not be competitive, and we are not able to take that risk. The eighth round, Gustavo also said that we looked at all relevant assets. It's a project with a round that's going to be for 33-34. We're talking about Santos Dumont and Galeão airports. I'm sure that the company will look at this as it did about Congonhas until the last day. We dedicate a lot of time analyzing it, and we will analyze Viracopos, Natal, and other M&A that may come. The platform that what we had before the strategic plan that was consolidate our strategic position in this new geography by constructing a platform that had a minimum viable scale. This is ongoing. We gave the first step, we doubled, we brought new talent such as Monica. We are constructing competences and skills to have the same competence that we have in highways and urban mobility. We are a strategic player, and we're looking to every opportunity. We also have two important pieces of information. Some projects are coming to the project at medium term and other, and we have strategic project in the region of São Paulo. We have 13 million square meters of fields in Cariacica to develop the new project. This is a big land. If there is not an airport, only for the land itself has a very good value. This is another. We deferred Congonhas in terms of capitalization. We have other alternatives to increase the network airports, not only Congonhas. This is why we decided not to go to the seventh round, but we still have our plan to grow in the airport. First, to wrap up this morning, I'd like to ask Eduardo Camargo to say some words. Thank you. I'd like to thank the presence of all. CCR is very important with the trajectory that is unique in terms of transparency and trustworthiness. We have delivering what was promised, but we have had transparency, in terms of give visibility in terms of the future of the company. Thank you all for your time and staying with us this morning. The session is adjourned.